Mobile phone imports dip 11pc to $755.5m

ISLAMABAD: The imports of mobile phones into the country decreased by 10.87pc during the Financial Year 2018-19, as compared to the corresponding period of last year.

Pakistan imported mobile phones worth $755.545 million during July-June 2018-19 compared with the imports of $847.654 million during July-June 2017-18, according to the latest data released by the Pakistan Bureau of Statistics (PBS).

On a year-on-year basis, the imports of mobile phones witnessed a decrease of 34.18pc during June 2019, when compared to the imports of the same month of last year. The mobile imports in June 2019 were recorded at $57.733 million as against the imports of $87.717 million in June 2018.

Meanwhile, on a month-on-month basis, the import of mobile phones also witnessed a decline of 12.27pc during June 2019, when compared to the imports of $65.810 million during May 2018.

It is pertinent to mention that the country’s merchandise trade deficit plunged by 15.33pc during the FY19, as compared to the corresponding period of last year.

The trade deficit contracted to $31.820 billion during FY19 against the deficit of $37.583 billion recorded in FY18.